General Motors (GM): An investor sold an existing position in 10,000 October 25 calls for $0.77 and rolled up to the October 26 calls for $0.33. They collected $0.44 and stand to profit from further upside in the share price. GM rose 2.60 percent to $25.29.

Microsoft (MSFT): Almost 23,000 January 2014 25 puts were bought for $1.84 to $1.88 as investors seek long-term protection on the software giant. MSFT fell 0.23 percent to $29.97.

Phillip Morris (PM): More than 18,000 October 87.50 puts were bought, mostly for $0.14, as investors position for a near-term drop. PM rose 0.42 percent to $93.69.

optionMONSTER® provides stock market insight, advanced options education, and actionable trade ideas to meet the needs of do-it-yourself investors. After spending decades in the trading pits of Chicago, Jon 'DRJ' and Pete Najarian founded the company in 2005 to help people better manage their own investment portfolios.